Romania meets inflation spike with rate hike

Central bank adds 75bp to policy rate as inflation passes 10% mark and economy sputters

The National Bank of Romania
The National Bank of Romania
Andrea Gagyi

The board of the National Bank of Romania raised the policy rate by 75 basis points to 3.75% on May 10, citing sharply rising inflation readings. The hike is the sixth since October 2021, when the rate stood at 1.25%.

The central bank said headline inflation reached 10.2% in March, up from 8.5%, due to higher food and fuel costs amid the Russia-Ukraine war and sanctions. Core inflation was 7.1%.

The NBR maintains a 2.5% target, with a tolerance band of 1% in either direction. Romania’s

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